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ROCHAL ASSET ACQUISITION (Tables)
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
SCHEDULE OF TOTAL PURCHASE PRICE

 

Description  Amount 
Net cash consideration  $496,100 
Equity consideration (fair value)   584,244 
Net liabilities assumed   3,900 
Transaction costs   78,586 
Total purchase consideration  $1,162,830 
SCHEDULE OF TOTAL PURCHASE CONSIDERATION FAIR VALUE OF SUCH ASSETS

The purchase consideration, plus transaction costs, was allocated to the individual assets according to their fair values as a percentage of the total fair value of the assets purchased, with no goodwill recognized. Based on the Company’s internal valuation performed, the total fair value of the net assets acquired was attributable to the intellectual property (i.e., patents) and assembled workforce. Due to the de minimis estimated fair value of furniture and equipment acquired, the Company did not allocate any amounts to such assets. The total purchase consideration was allocated based on the relative estimated fair value of such assets as follows:

Description  Amount   Percent of Total 
Patents and Intellectual Property  $1,099,801    94.6%
Assembled Workforce   63,029    5.4%
           
Total purchase consideration  $1,162,830    100.0%